The
head of the Equal Opportunities Commission has told bosses in the financial
sector they must take a ‘sledgehammer’ to the glass ceiling, if they are to reduce the 46 per cent gender
pay gap.
Julie
Mellor, chair of the EOC, said women in the sector earned an hourly rate of pay
that was almost half that of men – a gap wider than in any other industry.
Mellor
described the situation as appalling and urged finance employers to take the
lead in reviewing pay systems and making the most of flexible working
legislation.
Speaking
at banking union UNIFI’s annual conference, she said pay reviews alone wouldn’t
necessarily solve the problem, but would uncover the underlying reasons for
women’s low pay.
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